Its Official Now, Dara Khosrowshahi Joined Uber As Its New CEO

Uber has officially announced Expedia chief Dara Khosrowshahi as its new CEO, handing over the reins to him to turn around things for the troubled US-based cab aggregator.

The 48-year old executive now has the herculean task of repairing Uber’s image, boosting employee morale and turning business profitable for the world’s most valued startup.

Uber, in an email sent to employees posted on the company blog, said the “board has voted unanimously to appoint Dara Khosrowshahi to be our new CEO”. “The Board and the Executive Leadership Team are confident that Dara is the best person to lead Uber into the future building world-class products, transforming cities, and adding value to the lives of drivers and riders around the world while continuously improving our culture and making Uber the best place to work,” it added.

Khosrowshahi was among the top three finalists for the top job with the other being Hewlett Packard Enterprise CEO Meg Whitman and General Electric Chairman Jeff Immelt.

In a tweet, Whitman said while she does not comment on rumours, but the speculation about her future and Uber had become a “distraction”. Se seemed very clear about it on her tweets.

(1/3) Normally I do not comment on rumors, but the speculation about my future and Uber has become a distraction.

Khosrowshahi takes over the operations from Travis Kalanick, who quit in June under intense pressure from some of Ubers key investors.

There are also reports of its investor Benchmark Capital Partners filing a lawsuit against the company, claiming Kalanick concealed material information from investors when he created three new board seats in 2016 and gave himself the right to appoint people to those seats.

Uber had come under fire after allegations of widespread mismanagement and harassment at workplace. In an attempt to repair its reputation, Kalanick had earlier in the year said he would take a leave of absence as the CEO.

Apart from Kalanick going on leave, the recommendations suggested Uber exercising more control over HR and the overall culture at the workplace.

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Uber had posted 16 per cent rise in ride bookings and 17 per cent growth in net revenue for the second quarter over the previous period, while its losses reduced by 9 per cent to USD 645 million at a global level.

In India, Uber has seen 115 per cent rise in number of completed trips in July this year over the same month last year. The company, which is locked in an intense battle for leadership with SoftBank-backed Ola in India, counts India among its fastest growing markets.